What do you like best?
It's a perfectly fine editing program, but still has some shortcomings compared to the previous version of Final Cut and other NLEs out there. I like being able to move clips around easier and inserting them into the sequence where they may fit better and having the rest of the clips afterward push out to accommodate the new clip (instead of making a hole, then moving the clip, then closing the gaps), but not one of the features that makes me drop everything and switch systems. I like that I have everything available for audio and color editing, so Final Cut Pro X is my go to for short one off projects.
The file/clip library is much easier to use than any other system I had in the past as well. I like that I can work on multiple jobs that may have overlapping clips, and keep them all in the same self-contained library. Then I can dump it all on a hard drive, and move to another computer if needed.
Clip importing and tagging is very easy to use, but also not a giant needed improvement over the old version of Final Cut.
I do also like being able to upload directly to Vimeo for some projects, so I can let it run overnight and not have to worry about it, but sometimes I don't have the options I want for exporting without following additional steps anyway, just like previous systems.
What do you dislike?
Everything I like best, has shortcomings. Inserting a clip into a new spot without having to create a hole for it was never a problem I really had. The implications around this feature make it more difficult to use in other situations. The way the clips are attached to the sequence makes it tough for when I do want to create holes for working on drafts. You can create gaps to insert into the timeline, but now it's an extra step, whereas before I could just move clips around and create the holes in one move.
Having the audio and color editing in the system is nice, but it's also not as robust, so when I'm used to being able to fine tune things, I can't, and it's harder to move to another system just for those pieces. Final Cut Studio (previous version) was great when being able to export the project in its correct format for color editing, or audio editing, in their same suite of applications, and each gave me the features I needed to do proper audio and color editing. Even if I wanted to use another application, exporting an EDL that could be recognized by other 3rd party apps was great. The EDL that FCP X exports is not easily useable by other applications.
For how great the clip library is for FCP X, it's also not exportable as easy for other systems. I want to be able to work on a project in one application, and if an outside vendor is using something slightly different, I want to be able to send files to them as easily as possible.
Clip importing doesn't have the standard obvious feature of adding take and scene numbers when importing. Very important for working on narrative pieces.
Live rendering also isn't as great as it sounds. It still doesn't render if you're doing any editing, and when it's working on renders, it slows the system down. I was ok with stopping every now and then and rendering what I needed in previous systems.
Recommendations to others considering the product
Not bad for $300 to have on hand, or even just getting into editing, especially from iMovie. But if you're looking for more robust features and a traditional NLE, look at other applications first.
What business problems are you solving with the product? What benefits have you realized?
If I'm working on a quick project that doesn't need a lot of fine tune editing, and has a simple basic structure, it's perfect. But sometimes even adding titles or something I would think is simple ends up adding more time to the project overall and I wish I had used another editor. Even my simple edit jobs end up turning into something more complicated, but then I'm stuck with FCP X and this creates further delays.